The Dorchester House Apartments, a 91-unit apartment senior complex, received a $6.7… more

Photo courtesy of MassHousing.

The Dorchester House Apartments, a 91-unit apartment complex for seniors in Boston's Dorchester neighborhood, will stay affordable into the future thanks to a new loan from MassHousing, the state’s affordable housing bank.

The building’s original subsidized 30-year mortgage was set to be paid off in June that could trigger a conversion to market rents. As an alternative, owners can refinance with MassHousing and promise to provide affordable rents for many more years.

The Dorchester House Apartments, a 91-unit apartment senior complex, received a $6.7… more

Photo courtesy of MassHousing.

Dorchester Housing Associates, an affiliate of EAF Associates, which owns the property, has closed a new 40-year loan of $6.7 million from MassHousing. One condition of the loan requires the owners to extend the existing federal Section 8 contract for the longest term possible. Section 8 subsidies ensure that the rents remain below market.

The Dorchester Housing Apartments, also known the James Kelly House Apartments, were built in 1982 with MassHousing financing. The development is located at 10 Ellet St. in Dorchester in a single structure with one four-story wing and one seven-story wing. As part of the refinancing, a number of capital improvements are planned.